Futures for Canada’s largest market pointed to a lower opening on Friday immediately following jobs data. Also, investors remained cautious over Hurricane Irma, one of the most powerful storms in a century that drove towards Florida.
The S&P/TSX Composite Index remained negative 35.3 points to end Thursday at 15,024.53
September futures dropped 0.1% on Friday morning.
The Canadian dollar sprang to life 0.21 cents to 82.7 cents U.S. Friday morning.
Hudson’s Bay signaled it had no intention of selling German department store chain Kaufhof, after people familiar with the matter said Austrian real estate company Signa Holding was considering a bid. Moreover, RBC raised the department store chain’s price target to $10.00 from $9.00
TransCanada Corp seeks to suspend the application for its Energy East pipeline for 30 days and may abandon the project, the company said on Thursday, weeks after Canada’s National Energy Board announced a tougher review process.
Desjardins raised the target price on Dollarama to $154.00 from $134.00
Economically speaking, Statistics Canada reported Friday that the economy created 22,000 jobs in August. The unemployment rate declined by 0.1 percentage points to 6.2%, matching the most recent low of October 2008, the month prior to the 2008-2009 labour-market downturn.
ON BAYSTREET
The TSX Venture Exchange inched up 0.06 points to finish Thursday to 774.05
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Friday, as investors took note of the weaker trading seen overseas, while awaiting more data releases.
Futures for the Dow Jones Industrials removed 78 points, or 0.4%, to 21,692. S&P 500 futures faded 7.5 points, or 0.3%, to 2,457.25, while futures on the NASDAQ Composite index dropped 14.25 points, or 0.2%, to 5,963.25
On the data front, wholesale trade is set to come out at 10:00 a.m. ET, followed by consumer credit at 3:00 p.m. ET. Meanwhile in earnings, Kroger was set to report before the bell.
In central bank news, Philadelphia Federal Reserve President Patrick Harker is expected to deliver remarks at a Conference in Philadelphia this morning.
Overseas, markets in Europe were under selling pressure approaching noon local time, while Japan’s Nikkei 225 faltered 0.6% and the CSI 300 in Shanghai slid 0.1%
Oil prices skidded 16 cents to $48.93 U.S. per barrel.
Gold prices gained $7.50 at $1,357.80 U.S. an ounce.
